Daxbase Forex Review

Read our full Daxbase review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased Daxbase opinion allows our readers to decide whether Daxbase is a reliable broker.

Daxbase Forex Broker History

Daxbase has years of experience in binary options trading but it could not translate it into a license. The broker is not overseen by any authority and is based in the Marshall Islands, which is offshore. There is very limited information available on its website regarding its services like spreads, commissions, and so on.

Daxbase broker safety

Daxbase is only registered in the Marshall Islands and does not hold a license for providing securities trading services or a binary options platform. This is a major red flag for its safety and reliability. The broker does not provide a negative balance protection as it is an unregulated binary options trading platform and traders typically lose almost all of their bets when they are wrong. The risk is defined right from the beginning. However, the broker also provides FX trading with forex currency pairs and the lack of negative balance protection is a serious drawback.

Daxbase Broker Review of Accounts

Daxbase offers access to several accounts, which are tiered according to the minimum deposit requirement. There are Daxbase bronze, silver, and gold account types available and the broker fails to provide any details regarding the exact trading conditions.

The Daxbase Bronze trading account offers the following:

• Minimum deposit – $250
• Maximum leverage – 100:1
• Spreads – N/A
• Commissions – N/A
• Minimum lot size – N/A
• Minimum binary options trading size – 1 USD
• Payouts – N/A

The Daxbase Silver trading account offers the following:

• Minimum deposit – From $1,000
• Maximum leverage – 100:1
• Spreads – N/A
• Commissions – N/A
• Minimum lot size – N/A
• Minimum binary options trading size – 1 USD
• Payouts – N/A

The Daxbase Gold trading account offers the following:

• Minimum deposit – From $3,000
• Maximum leverage – 100:1
• Spreads – N/A
• Commissions – N/A
• Minimum lot size – N/A
• Minimum binary options trading size – 1 USD
• Payouts – N/A

Overall, the Daxbase trading account experience is subpar: it has high minimum deposit requirements and does not disclose spreads and commissions transparently, which is a significant concern.

Daxbase instruments

The broker only allows access to Forex pairs for both FX trading and binary options gambling. There are no other assets available like stocks, cryptos, and commodities, which is a serious drawback of this broker. As a primarily binary options gambling platform, Daxbase fails to offer asset diversity for multi-asset traders and is more focused on providing a binary options gambling experience. The leverage is capped at 100:1, which is conservative but still enables traders to control serious trading power, 100 times their account balance. However, the broker does not disclose the percentage of binary options payouts.

Daxbase Reviews of Trading Platforms

Daxbase fails to provide an advanced trading environment. The broker does not offer access to any of the advanced platforms like MT4 and 5. Instead, there is a custom proprietary platform designed for very basic trading tasks and binary options betting. Chart types and default indicators list as well as other tools are very limited and do not provide proper technical analysis capabilities.

Mobile trading is not available as well and traders have to browse the broker’s website from their mobile devices which is very inconvenient.

Daxbase Forex Review of Extra Features

Daxbase is very limited when it comes to extra features. The broker only offers bonuses with strict conditions and there are also copy trading services available. There are three bonuses provided depending on the deposited amounts. A 20% bonus is given for deposits of 250 USD amounts, 500 USD deposits will provide 50%, and if a trader deposits 3,00 dollars, they get a 100% bonus. So, bonuses are given according to account tiers, the higher your trading account, the higher the receivable bonus.

Daxbase Reviews of Customer Support

Customer support experience is very satisfactory at Daxbase as the broker provides several support channels including email, live chat, and phone number. This is excellent but does not make up for other drawbacks like regulations and binary options trading on limited-feature platforms. Both the website and support options are multilingual. The website is unprofessional, however, providing little to no details about the broker’s services and conditions.

Daxbase Deposit and Withdrawal

Deposit and withdrawals are fee-free and traders can use various payment options such as popular cryptos, bank cards, and PerfectMoney. Bank cards incur 5% fees, while all other o-tons are commission-free.

The broker promises super quick withdrawal processing of under 1 hour, which is very competitive if true.

Daxbase Review Conclusion – Can you trust Daxbase?

Daxbase is an unregulated FX and binary options broker that is based in offshore jurisdictions and is not overseen by any authorities. Not only is it a very risky broker but the offering of binary options makes it super risky and we can assume there are high chances of the broker being a scam. This argument is reinforced by the broker’s claims of super fast withdrawals or 1 hour and various bonus offers.

Overall, the broker is risky and is not recommended for our readers as it offers binary options, has high minimum deposit requirements, and unprofessional website design with a lack of transparency.

FAQs on Daxbase

Is Daxbase a scam?

Daxbase scam is highly likely as the broker is based offshore, is not regulated, and offers access to binary options.

What is the Daxbase minimum deposit?

The minimum deposit as Daxbase starts from 250 dollars on its Bronze account, which is high.

Is Daxbase a cheap broker?

No, the broker has high minimum deposit requirements, and offers binary options which are very expensive asset classes and spreads are not disclosed.